Salomon gives nod to WestPoint. (Salomon Brothers gives WestPoint Stevens stock a "buy" rating)(Brief Article)
HFN: The Weekly Newspaper for the Home Furnishing Network, November, 1997
NEW YORK -- Investment bank Salomon Brothers initiated coverage of WestPoint Stevens, issuing a "buy" rating for the dominant supplier of bed linens and bath towels. Citing excellent growth opportunities for WestPoint, the bank said the manufacturer should be recognized as a vertically integrated consumer goods marketer rather than as a textiles manufacturer.
Salomon Brothers set a 12-month price target of $47 to $50 per share. The stock was trading last week on the Nasdaq at $42.
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